Dutch Bros Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
BROS$35.29-2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| (in thousands, except per share amounts) | December 31,2023 | December 31,2022 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $133,545 | $20,178 |
| Accounts receivable, net | 9,124 | 11,966 |
| Inventories, net | 46,953 | 39,229 |
| Prepaid expenses and other current assets | 15,637 | 10,949 |
| Total current assets | 205,259 | 82,322 |
| Property and equipment, net | 542,440 | 365,468 |
| Finance lease right-of-use assets, net | 382,734 | 247,943 |
| Operating lease right-of-use assets, net | 199,673 | 169,302 |
| Intangibles, net | 5,415 | 8,804 |
| Goodwill | 21,629 | 21,629 |
| Deferred income tax assets, net | 402,995 | 288,765 |
| Other long-term assets | 3,865 | 2,127 |
| Total assets | $1,764,010 | $1,186,360 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $29,957 | $21,270 |
| Accrued compensation and benefits | 31,405 | 19,706 |
| Other accrued liabilities | 15,770 | 9,667 |
| Other current liabilities | 6,423 | 5,939 |
| Deferred revenue | 30,349 | 25,335 |
| Line of credit | — | 110,865 |
| Current portion of finance lease liabilities | 9,482 | 7,971 |
| Current portion of operating lease liabilities | 10,239 | 9,317 |
| Current portion of long-term debt | 4,491 | 2,609 |
| Total current liabilities | 138,116 | 212,679 |
| Deferred revenue, net of current portion | 6,676 | 6,119 |
| Finance lease liabilities, net of current portion | 367,775 | 237,130 |
| Operating lease liabilities, net of current portion | 191,419 | 161,228 |
| Long-term debt, net of current portion | 93,175 | 96,297 |
| Tax receivable agreements liability | 290,920 | 220,923 |
| Other long-term liabilities | 8 | 8 |
| Total liabilities | 1,088,089 | 934,384 |
| Commitments and contingencies (Note 17) | ||
Consolidated Balance Sheets (continued)
| (in thousands, except per share amounts) | December 31,2023 | December 31,2022 |
|---|---|---|
| Preferred stock, $0.00001 par value per share - 20,000 shares authorized; zero shares issued and outstanding as of December 31, 2023 and 2022, respectively | — | — |
| Class A common stock, $0.00001 par value per share - 400,000 shares authorized; 69,958 and 45,544 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 1 | 1 |
| Class B common stock, $0.00001 par value per share - 144,000 shares authorized; 60,629 and 64,699 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 1 | 1 |
| Class C common stock, $0.00001 par value per share - 105,000 shares authorized; 35,864 and 41,056 shares issued and outstanding as of December 31, 2023 and 2022, respectively | — | — |
| Class D common stock, $0.00001 par value per share - 42,000 shares authorized; 10,669 and 12,411 shares issued and outstanding as of December 31, 2023 and 2022, respectively | — | — |
| Additional paid-in capital | 379,391 | 145,613 |
| Accumulated other comprehensive income | 544 | 813 |
| Accumulated deficit | (15,592) | (17,310) |
| Total stockholders' equity attributable to Dutch Bros Inc. | 364,345 | 129,118 |
| Non-controlling interests | 311,576 | 122,858 |
| Total equity | 675,921 | 251,976 |
| Total liabilities and equity | $1,764,010 | $1,186,360 |
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